Updates under the optimised plan for consumption benefits through electronic payment methods seek to balance the need to relieve people’s financial burdens and boost the local economy, while simplifying the procedures to deliver the plan. This is in order to provide Macao residents with greater convenience when accessing the consumption benefits scheme, to boost local consumption.
Speaking in a press conference today, the Secretary for Economy and Finance, Mr Lei Wai Nong, said that after garnering opinions from the community, the Government had drafted its new proposal. This was in accordance with the overall principle of ‘subsidies provided by Government, immediate discount upon product or service consumption, and benefits for all’. The new proposal also adopted as reference the electronic consumption card model that was employed by the Government in 2020.
Under the new proposal, Macao permanent resident ID holders and Macao non-permanent resident ID holders would each be entitled to a start-up fund of 5,000 patacas and a discount grant of 3,000 patacas. They could choose either to use one of the locally-registered mobile payment platforms or their electronic consumption card to enjoy the benefits.
Macao permanent resident ID holders and Macao non-permanent resident ID holders would need to sign up for the plan via the Macao Monetary Authority website between May and December 2021. The usage period for the consumption benefits would be from June to December 2021.
The rules for using the 5,000-patacas start-up fund would remain similar to those applicable to the electronic consumption card last year: namely, a maximum spend for each card, or each mobile payment platform account, of 300 patacas per day. The newly-introduced 3,000-patacas discount grant was designed to offer an immediate discount of 25 percent upon the purchase of eligible goods or services making use of the start-up fund. The discount would be applied automatically.
For example, a 400-patacas item would be discounted by 25 percent if the purchaser was using their selected payment method to enjoy the benefits (i.e. either a locally-registered mobile payment platform or the electronic consumption card). The remaining 300 patacas of the purchase would be covered by the start-up fund.
The mobile payment platform or the electronic consumption card could be topped up when the start-up fund was emptied, namely for holders to use up their 3,000-patacas discount grant.
The Government would bolster its promotion effort, including by setting up a dedicated website and making available videos, infographics and lists of frequently-asked questions, and by holding seminars. This was in order for the public to understand better the details of the new consumption benefits plan.
Both the start-up fund and discount grant could be redeemed when purchasing goods or services; they could neither be cashed out, nor used for any one of the following purchases: payment of water or electricity tariffs; gaming; payment of tourism services to be delivered outside Macao; medical services; bank services; payments either to financial institutions or pawnshops, or other types of service as specified by relevant regulations.
Further details about registration and utilisation regarding the scheme would be made available soon.View gallery